In Denmark’s fiercely competitive commercial pension industry, Velliv was quick to take action with a root-and-branch overhaul of its pension provision when it experienced a drop in returns in the first half of 2024. It sacked its active equity managers and scaled up internal active strategies and low-cost, index-based investments instead, and stopped allocating to its $4.3 billion alternatives allocation. Thor Schultz Christensen, deputy CIO at Velliv, unpacks the change.
Top Australian allocators have conceded it is time to rethink the underweight positions to China which have characterised their portfolios, as the Asian superpower’s intensifying AI race with the US creates attractive opportunities.
Divesting from the oil sector has been a boon for La Caisse’s performance, as the Canadian pension giant says its energy investments have earned billions in value-add compared to the benchmark since the inception of its climate strategy. Head of sustainability Bertrand Millot unpacks the fund’s approach in an interview with Top1000funds.com.
A weakening US dollar has eaten into the returns of Canada’s largest pension funds as annual reports revealed the currency shock forced a fundamental rethink from some investors around hedging practices. OMERS has pivoted from a policy hedging target to a more flexible approach fulfilling multiple objectives, while OTPP more than halved its US dollar exposure in 2025.
To navigate rates and inflation uncertainty, OPTrust is leaning into dynamic portfolio construction, actively managed options, and a total portfolio approach supporting the belief that inflation resilience is built into how portfolios are constructed not an individual asset or exposure.
The on- and off-stage antics at the extravagant Milken Global Conference in Los Angeles tell us a lot about where institutional capital is right on the money – and where it is putting its head in the sand.
Norge Bank Investment Management chief executive Nicolai Tangen conceded the $2.1 trillion fund is “not satisfied” with the performance of its real estate portfolio, as weakness in the asset class was a main contributor to three consecutive years of negative relative returns. All eyes are now on whether its overhauled strategy, which includes new structures and sector composition, can turn things around.
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